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Please explain how to get abswer. This is what I got when I tried to get them myself but I'm not sure if theyre correcr.
Please explain how to get abswer. This is what I got when I tried to get them myself but I'm not sure if theyre correcr. 1. Investor buys property worth $1.3 million. Puts 15% down financing the rest for 20 year at an annual rate of 3% a year. a. What are the monthly payments? b. How much is owed on the loan after 43 months? Property appreciates by 0.1% a month. c. What is the value of the property after 60 months? d. How much equity is in the property after 60 months? e. What percent of the equity after 60 months is due to the paying down of the principal? 1. investor buys property worth 1.3 million. Puts 15% down financing the rest for 20 year at an annual rate of 3% a year a. What are the monthly payments? pv down 1300000 1105000 195000 nper 15% 85% rate 20 240 pmt 0.03 $6,128.30 0.0025 borrow down b. how much is owed on the loan after 43 months? nper 43 $952,405.92 c. What is the value of the property after 60 months? nper 60 $1,510,101.82 d. How much equity is in the property after 60 months? $887,411.87 owed at 60 months $1,283,586.54 $396,174.67 e. What percent of the equity after 60 months is due to the paying down of the principal? 30.47% 217588.129 1829
Please explain how to get abswer. This is what I got when I tried to get them myself but I'm not sure if theyre correcr.
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